Two-Unit Duplex with Two
For Sale
$549,000
Pending
10839 Rennard Street, Philadelphia, PA 19116
Well-maintained duplex with two 2-bedroom, 1-bath units, hardwood floors, updated bathrooms, and shared laundry.
Property Size1,988 SF
Days on Market82
Property Features for 10839 Rennard Street
General Information
Standard status
Pending
Size
1,988 SF
Total Parking Spaces
2
Property subtype
Multi-Family / Fee Simple
Zoning
RTA1
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,171
Amenities
No
No Pool
Building Details
Year Built
1970
Listing Agency:
Howard Hanna Real Estate Services
Listed By:
Amanda Gutman · License #RS341442
(215) 520-5221
Source:
Compass
Added: Jun 17
Changed: Aug 8
Last Checked: Jul 24 at 3:20PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Howard Hanna Real Estate Services
Investment Insights
Based on property information with market context.
This well-maintained duplex offers two spacious 2-bedroom, 1-bath units. Both apartments feature hardwood flooring and updated bathrooms. The property includes a partially finished basement, two-car garage, and two shared laundry areas for tenant convenience. Outside, there is a large backyard, along with a storage shed.
The property is located in a desirable cul-de-sac setting in Philadelphia (MLS area 19116). Public remarks note a roof coating system and replacement water heaters, along with consistent upkeep of major systems and components.
As described, the first-floor unit is currently rented, while the second-floor unit is expected to be vacant as of July 1, creating flexibility for either an owner-occupant or a new tenant.
The property is located in a desirable cul-de-sac setting in Philadelphia (MLS area 19116). Public remarks note a roof coating system and replacement water heaters, along with consistent upkeep of major systems and components.
As described, the first-floor unit is currently rented, while the second-floor unit is expected to be vacant as of July 1, creating flexibility for either an owner-occupant or a new tenant.
Key Highlights
- Duplex built in 1970 with two 2‑bedroom, 1‑bath units
- First‑floor unit is currently rented for $2,150/month; second‑floor unit will be vacant as of July 1
- Hardwood flooring throughout both units and updated bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,925
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.18%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$678,500
$678.5K
Cap Rate 7%
$484,643
$484.6K
Cap Rate 9%
$376,944
$376.9K
Market Conditions
NOI Build-Up for 1,988 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$51.3K $25.80/SF
− Vacancy
−$2.8K −$1.42/SF
EGI
$48.5K $24.38/SF
− OpEx
−$14.5K −$7.31/SF
NOI
$33.9K $17.06/SF
Area
Philadelphia, PA
Vacancy
5.51%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$678,500
Cap Rate 7%
$484,643
Cap Rate 9%
$376,944
Alternative Uses
Best Use
Multifamily LT 5
$484.6K
$424.1K – $565.4K
NOI $33,925 @ 7.0% cap · market cap 6.18%
Second Best
Apartment 5plus
$446.7K
$390.9K – $521.2K
NOI $31,270 @ 7.0% cap · market cap 5.70%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
616
Businesses Nearby
Explore this area
Business Placement
Demographics for 19116, PA
35,610
Population
14,166
Households
2.5
Avg Household Size
43
Median Age
36%
College-Educated
90%
High-School Grad
5.2 sq mi
ZIP Area
6,848
Density / Sq Mi
$67,558
Median Household Income
$43,817
Median Earnings
$1,214
Median Rent
$321,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex with two 2-bedroom, 1-bath units, hardwood floors, updated bathrooms, and shared laundry.
Where is this duplex located?
The property is located at 10839 Rennard Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Duplex built in 1970 with two 2‑bedroom, 1‑bath units; First‑floor unit is currently rented for $2,150/month; second‑floor unit will be vacant as of July 1; Hardwood flooring throughout both units and updated bathrooms
